SteelMint billet index increases further on active trades- 28 Nov

SteelMint daily billet index has been assessed at INR 34,600/t (+150), exw Raipur on 28th November, 16:00 IST.

Total of about 1,900 t billet trades recorded today, as against 5,350 t on yesterday (i.e. 27th Nov).

• This index has been derived based on transactions, offers, bids and indicative price data sets. Transactions are considered as T1 and given a weightage of 50% whereas other data sets are considered as T2 and given a weightage of the balance 50%.
  
  
• Transactions (T1)- Four trades were recorded in the 11:30 am to 3.30 pm SteelMint trading window and considered for final price calculation as T1 inputs. Out of which, two trades were recorded at INR 34,500/t, one at INR 34,550/t & one trade at INR 34,700/t. The average price of these four transactions was INR 34,563/t and given a 50% weightage in the final price calculation.
  
  
• Other Price Indicators - bids/offers/indicative (T2)- Twelve offers reported in the trading window and considered as T2 inputs. The average price of these twelve was INR 34,627/t and given a 50% weightage in the final price calculation.
  
  

The final price for billet exw Raipur was at INR 34,595/t, rounded to INR 34,600/t exw.

For detailed methodology - Click here

T1: Trade
T2: Offer/Bid/Indicative